Employee Retention Ideas that Drive Employee Performance
Enhance connections between co-workers, managers, and the organization. To build stronger bonds between the top management and employees, one corporate office practices something called Employee Scavenger Hunt. Once or twice a year, they give every executive or manager five names of employees. They find each person, meet them, and learn about them as individuals. The process builds a better bond, improves communication, and builds trust within the organization.
Hire the best and avoid the rest. Research shows those organizations that spend more time recruiting high-caliber people earn 22% higher return to shareholders than their industry peers. Cisco CEO John Chambers said, “A world-class engineer with five peers can out produce 200 regular engineers.” Instead of waiting for people to apply for jobs, good organizations are always on the lookout for high-caliber people.
Provide learning opportunities. For many people, learning new skills is as important as the money they make. Identify career paths and provide developmental opportunities for employees early in their jobs with the organization. Promote on-going, two-way communication between employees and their immediate managers regarding career progress. In a study by Linkage, Inc. people said they would consider leaving their present employer for another job with the same benefits if that job provided better career development and greater challenges.
Make people feel appreciated. People want to be paid well, but also would like to be treated with respect and appreciation. Find creative ways to make people feel good about their job. We have helped organizations set up something called, “peer recognition.” Peer recognition allows people to reward each other for doing a good job. It works because employees are in the best position to catch people doing the right things.
TD Industries in Dallas, Texas, helps their employees feel valued by using one wall within the company to place photographs of all employees who have been with the them more than five years. They also try to make everyone feel equal and have no reserved parking spaces for executives. That is one reason why TD Industries was listed by Fortune magazine as one of the Top 100 Best Places to Work.
Measure attitudes of your workforce. On employee retention idea is using employee climate assessments to measure the attitudes and feeling of their workforce. Every organization should conduct some form of climate assessment periodically during the year.